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Non-Tech : TD Waterhouse Group (TWE) -- Ignore unavailable to you. Want to Upgrade?

To: RDR who wrote (162)	6/18/1999 3:05:00 PM
From: bh	Read Replies (1) \| Respond to of 1413

People would have actually have to look at a balance sheet to see the value the IPOs bring. I would guess that 80% of people buying stocks today don't look at the financials, and wouldn't be able to tell the difference between the Balance Sheet and Income Statement.

To: RDR who wrote (162)	6/18/1999 3:45:00 PM
From: johnlag	Respond to of 1413

I am aware of a few of the instances you mentioned before. This is the second time around for me. I was long at 67 before the announcement of the Waterhouse spinoff. The stock subsequently shot to 90. Here's how I see it: Currently at the $70 level, very little of the brokerage valuations are built into the scenario. By sending 10% of Waterhouse's shares into the market, TD should be able to book the value of the rest of its 90% ownership. Most of the stocks you mentioned before did initially trade up substantially before being brought back down a few days before the IPO began to trade. One risk is how much valuation the market is willing to give the brokerages right. Taking into consideration market sentiment with regards to Schwab and Knight. It should be interesting. My call position is deep enough that even a 4 to 5 point move will be quite enough. Cheers! John